This raises important questions: When does an EPF account become inactive? What steps can you take to reactivate it? Here’s everything you need to know.
When Does an EPF Account Become Inactive?
According to EPFO rules, an EPF account is deemed inactive if no contributions are made for three consecutive years. Additionally, when an EPFO member reaches 58 years of age, their account is also marked as inoperative.
The number of inactive accounts has surged over the years. In the financial year 2018-19, 6.91 lakh accounts were classified as inactive, showing a steady rise in such accounts over the past five years.
How to Reactivate an Inoperative EPF Account
EPFO allows members to restart inoperative accounts and regain access to the funds within them. Here’s how:
- Visit the EPFO Office
- Submit an application to activate your account.
- Ensure your Universal Account Number (UAN) is obtained during this process.
- Complete the KYC Process
- The account will only become fully operational once the Know Your Customer (KYC) process is successfully completed.
Steps for Accounts Without a Linked UAN
In cases where the UAN isn’t linked to the EPF account:
- Visit the EPFO office to link the UAN.
- Complete the e-KYC process.
Once your UAN and KYC are linked, you will regain access to your account and the funds deposited. After this, you can claim withdrawals as required.
Understanding and addressing inoperative accounts promptly can help you secure your hard-earned savings.
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